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How to prepare for retirement

by , 21 December 2015
How to prepare for retirement
When you retire, you want to be in a financially secure position.

This means taking the time now to plan and ensure that you stick to specific retirement planning goals so you achieve this end goal.

Read on to find out more…


What you need to do before you hit retirement

You need to take steps now to ensure that retirement isn’t a time when you’re worrying about money. To do this, you need to make sure you take action now to ensure you hit certain goals along the way…

Here are five tips to help you prepare for retirement…

Retirement Tip 1: Always invest as much as you can into your pension



Whether you have a company pension scheme or a retirement annuity, try to contribute as much as you can into it. This will help to boost your end pension.
 

Retirement Tip 2: Own your home outright



The quicker you pay off the bond on your home, the quicker you’ll have spare money each month to put towards your retirement.

By paying extra into your bond, you’ll reduce the interest payments and reduce the term of your bond.
 

Retirement Tip 3: Clear debt


Try to pay down all debt you have so you’re living a debt free life well before retirement. You need to stick to a strict budget managing exactly where your money is going.
 

Retirement Tip 4: Save


In addition to your pension plan, ensure you put money away into savings and investments to grow your wealth.


Retirement Tip 5: Consider working longer


As our life expectancy increases, consider working for longer than you initially planned to. This will give you additional income towards retirement.

So there you have it. How to prepare for retirement.

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Make sure YOU have the advantage in life

Members of Fast-track Millionaire have the privilege of always choosing their own cards in the poker game of life.

So, stack the cards in your favour – right now!!

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